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Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

OpenAI Executive Brad Lightcap Leaves Company To Launch New Venture

Brad Lightcap, one of OpenAI’s longest-serving executives, is leaving the AI company to pursue a new venture after more than eight years with the organisation.

Lightcap announced his departure in a message to OpenAI employees on Tuesday, saying he was moving on to “start something new”. He did not provide details about his plans but said he would share more in the future.

From CFO To Chief Operating Officer

Lightcap joined OpenAI in 2018 and spent four years as chief financial officer before becoming chief operating officer in 2022. In the role, he helped build and oversee teams covering finance, legal, human resources, corporate security, government and business development, as well as partnerships.

Earlier this year, OpenAI reorganised its executive structure and moved Lightcap into a role focused on special projects. Before joining OpenAI, he worked with CEO Sam Altman at venture capital firm Y Combinator.

OpenAI Faces Executive Turnover

Lightcap’s departure comes during a period of significant changes at the top of OpenAI. In July, Fidji Simo, who had served as the company’s No. 2 executive and led its AGI efforts, announced that she would step down from the role.

Several other senior executives have also left the company in recent months, including former Sora chief Bill Peebles and Kevin Weil, who previously led OpenAI’s Science division. The leadership changes come as OpenAI prepares for a potential IPO that could become one of the most significant technology listings in recent years.

Lightcap Hints At What Comes Next

In his departure message, Lightcap said he had spent recent months thinking about “the next horizon” and the challenges that could affect the success of OpenAI’s mission.

He suggested that his next project would address “important new things” the world will need to get right in the coming years, without revealing further details. Lightcap also expressed continued confidence in OpenAI, saying he believes in the company “more than ever” and plans to support its mission from a different position.

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